The simple fact is that right now, the NAV of BBI is roughly $2.4Bn. That includes a book value of 1.9Bn for DBCT. If we plug in a sale price of $2.7Bn for DBCT, an additional $800M hits the NAV. That brings it to $3.2Bn. For BEPPA holders to receive nothing in administration liquidation, there has to be impairment of $4Bn over all their assets. On my figures, I just cannot see where impairment would come to anything like $4Bn. BBI can take a hit on Euroports, PD Ports and Westnet Rail and still have enough equity for BBI holders and BEPPA holders. Remember, BEPPA holders receive $1.04+ interest before BBI holders receive one cent.
Dubrovnik is just magic at this time of year. macrae12fluffynymphselect, you should get here one day. Broaden your horizons good buddy.
BBI Price at posting:
6.2¢ Sentiment: None Disclosure: Held
